Spirit of Texas Bancshares Inc. (STXB) Misses Q1 EPS by 4c

Spirit of Texas Bancshares Inc. (NASDAQ: STXB) reported Q1 EPS of $0.22, $0.04 worse than the analyst estimate of $0.26.

Dean Bass, Spirit's Chairman and Chief Executive Officer, stated, "For over a decade we have cultivated a culture where each employee is viewed as a valued family member and each customer is appreciated and respected. We view the current environment as an opportunity to demonstrate through action our commitment to provide a pillar of strength upon which our customers and employees may lean in their time of need and to be the bedrock upon which our communities can rebuild when challenging times recede. We have taken the necessary measures outlined below to protect our valued employees while still serving our customers and our communities:

• Lobbies are closed and all banking activities are performed by appointment and/or via drive thru transactions;
• All of our employees are encouraged to work remotely when possible and are provided paid sick leave to ensure that they stay home when ill without fear of financial stress;
• All of our customers have access to funds via online banking, drive thru windows, and a network of over 55,000 ATM's nationwide;
• We are committed to supporting our customers by lending in good times and in bad and are currently working with all loan customers to address their needs and concerns; and
• We have and will continue to work diligently to connect our customers with government assistance programs as they become available.

"While the measures outlined above are only a small part of our efforts to ease the distress felt by our employees, customers, and communities, we are committed to taking whatever steps are necessary in the future to not only persevere, but thrive," concluded Bass.

For earnings history and earnings-related data on Spirit of Texas Bancshares Inc. (STXB) click here.

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